GCP Infrastructure Investments posts rise in first-half profit

GCP Infrastructure Investments reported a 17% rise in first-half net profit on Friday.The company posted a profit of £22.1m for the period, up from £18.9m last year, driven by growth of the investment portfolio following the deployment of the capital raised from the 2014 placing programme into a variety of infrastructure projects," said chairman Ian Reeves.GCP's net asset value grew to £543.7m at 31 March, 2015 from £470.8m at the end of the September 2014, as a result of the capital raised under the placing programme and a partial revaluation of the company's solar and PFI portfolios. Net asset value per share increased to 105.69p from 104.53p."There has been a significant increase in the amount of both equity and debt capital available for investment in infrastructure projects both in the UK and globally," said chairman Ian Reeves.